Lets all go to the bank in the morning, draw out
our accounts, life savings, and give it to these
sorry sob's so they can do with it, what they have done
with everone's investment so far. Or another idea
comes in mind, which will produce the same results as
investing it into this laughting stock.
combind our money, go to the nearest farm, stick it up a
...on something, Flipper. I too believe
privatization is the way to go. But (and it is a big but)the
privates must be willing to deliver a quality product
instead of ripping off the govts and the
Despite what you may think, I am not in favor of
Training/classification/compensation are the key. (Along with management we can trust)
I really do hope PZN's stock price has a big move
up soon as I am a strong believer in the
privatization industry. Gov't running businesses is not the
answer, IMO, and continues to prove so all the time. I
strongly believe in the ability of the free markets to
solve problems. We/I have spoken of this more times
then I care to think about.
The problem has
been this idealistic line of thinking that cost me a
lot of money. Not looking at CCA/PZN's individual
situation versus "the future of the industry".
When you review his messages over the past year,
they seem to vary from wildly bullish to Doc should be
locked up in one of his own facilities. I just thought
the assertion that the lawsuits are moot should not
go unchallenged, even though it should be obvious to
anybody who thinks about it. PZN should be a decent
investment if they ever get their shit together. But until
occupancy is up significantly, and the bleeding from spec
building stops, I don't see risking more capital. And I
don't think the lawsuits are trivial -- apparently
neither does PL.
bother to respond to this idiot. I'm surprised
he's not still pumping PRT on the PRT board. The
biggest problem with him is his name, "Reitmaster", which
gives some the impression he knows something about
Reits. Hopefully no one is taken in and makes
investments based on what he writes on these boards. Based on
past performance, his positive post is the best reason
I know to sell this loser!
PZN is broke ! If new capital is not injected,
the company has no alternative but bankruptcy.
Pacific Life is offering to help reorganize the
company(s) and get them (PZN/OPCO, et al)back on their feet.
I agree they should expect us stockholders to put
new money in the company. Let's face it. We made
mistakes sticking with the Company and it's failed
strategies. Nobody, especially Pacific Life, held a gun to
our head and made us hold on to the bitter end. We
who have been around a long time realized the value
of owning stock in a company that builds and runs
private prisons. We need hard nosed leadership that faces
the facts. We have had too much smoke and mirrors.
It's going to take new money to get the "ship
righted". We just need to hitch up our britches and cough
up the money for the rights and get on with the
reconstruction of the Co. IMHO.
IMHO, PZN's new amt of stock being more than
doubled after the offering won't matter until PZN has
since every dollar raised increase
both the number of common shares as well as to the new
book value of the company,
per share price/book
remains the same, doesn't it?
PZN is now trading as
the perceived book value IMHO
PZN has roughly 120mm shares outstanding. PZN
plans on raising $200mm in a rights offering(other wise
know as selling NEW shares of stock) At $200mm that
equals roughly 120mm NEW shares that need to be sold to
equal their needed $200mm.
2) PZN is offering a
12% PIK (payment in Kind...meaning they pay dividends
in the same stock you own)preferred stock with
specific dates to convert to common stock. Since the cash
preferred yields 17%, it will cause you to convert the PIK
pref. quickly or suffer a large loss because of the
"low"(12%) expected dividend. BOttom line, this should add
50mm NEW shares to PZN already doubled
The total is roughly 170mm new shares for sale this
year. Can the stock go up, of course it can. Will it? I
don't know. The information I'm stating is more a
matter of record not my assumptions as some would imply.
As I stated, can a stock go up with 140% NEW shares
being offered for sale in 6 months? I tend to feel not
becausee of the laws of supply and demand....this is no
reflection of CCA, PZN, Private Corrections, Tom Beasley, or
the price of rice in Hong Kong. Why do PL and
Fortress want a convertible preferred that pays versus
common stock is my question to others?